# Bank Account Inventory: List Every Account You Own

- Author: PreciseBankFlow (https://www.precisebankflow.com)
- Published: 2026-05-08
- Updated: 2026-05-08
- Category: Internal controls over cash
- Canonical: https://www.precisebankflow.com/blog/bank-account-inventory

> How to keep a bank account inventory: every account, signer and online user, how to confirm the list with each bank and close accounts nobody uses.
A bank account inventory is a single list of every account the business holds, at every bank, with its purpose, signers, online users, the ledger account it maps to and the date it was last reconciled. Build it from more than one source, confirm it against each bank's own records once a year, and close any account nobody can justify.

## What belongs in a bank account inventory?

Each row of a bank account inventory describes one account well enough that a stranger could find it, reconcile it and know who can move money out of it. That means the bank, the masked account number, the account type and purpose, the ledger account, the signers, the online users and the date of the last reconciliation and review.

### Fields to record

- **Bank and branch or relationship contact.** Who to call about the account.
- **Account number, last four digits.** Keep full numbers out of a shared spreadsheet.
- **Type and purpose.** Operating, payroll, savings, merchant deposit, escrow, petty cash replenishment.
- **General ledger account.** Every bank account needs its own ledger account, or it cannot be reconciled on its own.
- **Signers**, from the bank's signer record.
- **Online users and their roles**, such as view, initiate or approve.
- **Linked services**, such as positive pay, sweeps, debit cards or remote deposit.
- **Opened date, and closed date when it closes.**
- **Last reconciled and last reviewed**, with the month and initials.

### An example inventory

The table below is an example for a small company with four accounts. Names and numbers are made up.

| Bank | Acct | Purpose | GL account | Signers | Online users | Last reconciled | Status |
| --- | --- | --- | --- | --- | --- | --- | --- |
| First Example Bank | …4417 | Operating | 1010 | D. Ruiz, S. Okafor | Ruiz (approve), Hart (initiate) | Sep 2026 | Active |
| First Example Bank | …4425 | Payroll | 1020 | D. Ruiz, S. Okafor | Ruiz (approve) | Sep 2026 | Active |
| Second Example Bank | …9081 | Savings reserve | 1050 | D. Ruiz | Ruiz (view) | Sep 2026 | Active |
| Second Example Bank | …9112 | Old merchant deposits | none | L. Park (left) | none | Never | Close |

The last row is the kind of account an inventory exists to find. It has no ledger account, a signer who left the company and no reconciliation history. Interest-bearing accounts like the reserve need their own monthly tie-out as well, which [reconciling a savings account](/blog/reconcile-a-savings-account) explains.

### Small cash funds count too

Petty cash is not a bank account, but it is cash the company owns. List it on the same sheet with its custodian and float amount so every pool of cash is in one place. [Petty cash controls](/blog/petty-cash-controls) cover the float and custodian rules.

## Finding bank accounts missing from the inventory

Missing accounts usually come from acquisitions, old projects, merchant services, loans that required a collateral account, or an employee who opened one without telling anyone. Search the general ledger, tax forms, interest income, loan agreements and transfers on known statements to find them before an auditor or a bank letter does.

### Where to look

- **Transfers on known statements.** A transfer to or from an account number not on the list is the strongest clue.
- **Interest income and tax forms.** A Form 1099-INT from a bank you do not recognize means an account paid interest.
- **Loan and lease agreements.** Lenders sometimes require a deposit account at their bank.
- **Merchant and payment processor setups.** Processors pay out to a named account.
- **Mail and email from banks**, including notices about dormancy or fees.
- **Owner's personal knowledge.** Ask the owner directly. Owners sometimes open accounts the finance team has never seen.

The owner's own monthly look at the statements is another place unknown accounts appear. [An owner review of bank statements](/blog/owner-review-of-bank-statements) includes reading transfers for exactly that reason.

## Confirming the account inventory with each bank

Confirmation means asking each bank, in writing, for a list of every account held under the company's tax identification number, with signers and online users, and then comparing that list row by row with the inventory. The bank's answer is evidence from outside the company, so it catches what internal records miss.

### How to ask

Contact the relationship manager or business services desk at each bank the company uses or has used. Ask for every open account under the company's legal name and tax ID, and every account closed in the past year. Ask separately for the signer record and the online banking user list, because these often come from different departments.

### What to compare

Mark each account found on both lists, on the bank's list only, and on the company's list only. An account on the bank's list only is a gap in the inventory. One on the company's list only may already be closed and should be confirmed. Then compare signers and users name by name.

The same exercise is familiar from other asset classes. A [fixed asset reconciliation](/blog/fixed-asset-reconciliation) compares a register with what physically exists, and a bank account inventory compares a register with what the bank says exists.

## How do you close an account nobody uses?

To close an unused account, confirm nothing still pays into or out of it, move the remaining balance by transfer to a listed account, send the bank a signed closing request from an authorized signer, get written confirmation, and mark the inventory row closed with the date. Keep the final statement with the records.

### Steps

1. **Check for activity.** Read the last twelve statements for automatic debits, deposits from customers or processor payouts.
2. **Redirect anything still using it** to an active account.
3. **Transfer the balance** to a listed operating account and record the transfer on both ledgers.
4. **Request closure in writing**, signed by a current signer under the resolution.
5. **Get the bank's confirmation** and the final zero-balance statement.
6. **Update the inventory**, the ledger and any vendor or customer records that listed the account.

### Do not just let it go dormant

An account left open with a small balance still has signers and online users, still receives mail and can still accept deposits. That makes it an easy place to divert money where nobody looks.

## When a bank account inventory goes stale

A bank account inventory goes stale whenever something about who can reach the money changes and nobody updates the list. Update it immediately when an account opens or closes, a signer or online user changes, a bank merges or a business unit is bought or sold, rather than waiting for the annual confirmation.

### Triggers for an update

- **An employee with bank access leaves or changes role.**
- **A new bank relationship starts**, for a loan, a payroll provider or a merchant service.
- **Banks merge** and account numbers or online platforms change.
- **An acquisition** brings in accounts the buyer never opened.
- **A reconciliation is missing** for any month, which may mean an account was forgotten.

### Keep it next to the reconciliations

The inventory is most useful when it sits beside the monthly reconciliation file, so every account on the list has a reconciliation for every month. When statements are run through [PreciseBankFlow](/), each one is checked to foot from opening to closing balance, and the exported workpapers give you a dated record to tick against the inventory.